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(Alliance News) - Personal Assets Trust PLC on Friday posted a rise in net assets, beating its benchmark index, with the investor also holding its annual payout.
Net assets at its April 30 year-end came in at GBP1.16 billion, surging 20% from GBP968.6 million a year prior.
NAV per share was up 5.3% to GBP426.36 from GBP404.88.
To compare, the FTSE All-Share Index lost 20% during the period.
Shares in the company rose 0.8% to 44,894.45 pence on Friday morning in London.
Personal Assets held its payout at GBP5.60 per share and "barring unforeseen circumstances" it will pay the same in financial 2021.
"What has proved to be a memorable financial year will be defined by its final quarter, which saw a dramatic sell-off in stock markets worldwide as a result of the coronavirus pandemic," Investment Manager Sebastian Lyon said.
"We are relieved by the resilience shown by many of PAT's holdings during the sell-off. The trust's equities held up far better than UK and global equity indices. The mundane activities of selling coffee, chocolate, toothpaste and pet food demonstrated the longstanding merits of staples companies like Nestle SA, Unilever PLC and Colgate."
By Eric Cunha; ericcunha@alliancenews.com
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